Wolfgang Schaeuble News

Athens -
Greece has finally won a concession from the international creditors that dictate fiscal policy. From the beginning of August the VAT applied to the catering trade will be reduced from 23 to 13 per cent, giving a welcome boost to small businesses.

As banks across Cyprus remain closed for business and ATMs fail to produce euro notes, reports indicate that German Chancellor Angela Merkel is clearly at the helm, forbidding Cyprus to negotiate with other interested parties beyond the Troika.

New Year cheer from German Chancellor Angela Merkel as she warns that the economy in 2013 "will be even more difficult." Her words contradict those of Finance Minister Wolfgang Schäuble who said "I think we have the worst behind us."

On the eve of the Greek elections German Finance Minister Wolfgang Schaeuble sent a warning to Greece that it will have to "bear the consequences" if it fails to elect a government that does not respect commitments made by the current government.

Athens -
President Karolos Papoulias has delivered a speech in which he decried German Finance Minister Wolfgang Schaeuble's insults to Greece. The President said "I cannot accept Mr Schaeuble insulting my country. Who is Mr Schaeuble to insult Greece?

Sydney -
Greece has passed its much-hated EU and IMF-dictated austerity package, which includes the oppressive requirement for a 22% cut to the minimum wage and pension cuts. The likely result will be a drastic lowering of the living standards of the Greeks.